Since the bank went public in 1999, the average percentage is above 44%.

Last year’s figure was impacted by a surge in Goldman revenue and a lowered headcount as the bank tries to cut costs. The total compensation the bank paid was actually higher for 2012 compared to 2011.

Goldman’s move is part of the growing trend of banks to pare compensation or change how its paid, a topic those outside Wall Street watch closely.

J.P. Morgan today slashed the pay of its CEO Jamie Dimon by half after last year’s trading disaster, and reported a lower compensation ratio as well. J.P. Morgan said the compensation ratio in its investment bank for the year was 32%.

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